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U.S. Jewelry Store Revenues Hit High in February
Apr 14, 2016 3:35 AM
By Rapaport News
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RAPAPORT... U.S. jewelry store sales in a seasonally-strong February
surpassed the highest level the month has seen in years as
shoppers ploughed $2.66 billion in specialist retailers.
Sales in the month that includes Valentine’s Day jumped 7.7
percent from a year ago, according to the U.S. Census Bureau, validating an
upward trend seen in an earlier data release that showed a 4.5-percent
rise in jewelry and watch revenues across all retail outlets in February.
The figure for specialty jewelry sellers, unadjusted for
seasonality and trading-day differences, is the highest since November 2013 for
any month other than December, which consistently records the highest sales of
the year because of Christmas, and May, which is propped up by Mother’s Day. It
is also the second-highest monthly figure other than December or May since at least as far back as January 2009.
Jewelry stores data, which lags general U.S. retail figures by
a month, came as the Census Bureau reported a 0.3 percent dip in retail and
food services sales to a seasonally-adjusted $446.9 billion in March. Revenues in
the first quarter rose 2.8 percent.
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Tags:
Rapaport News, retail, u.s., U.S. jewelry store sales
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